Identiv (NASDAQ:INVE) Stock Passes Above 200-Day Moving Average – Time to Sell?

Identiv, Inc. (NASDAQ:INVE)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.64 and traded as high as $4.10. Identiv shares last traded at $3.98, with a volume of 87,634 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on INVE shares. Wall Street Zen upgraded shares of Identiv to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings restated a “sell (d)” rating on shares of Identiv in a report on Friday, March 27th. Craig Hallum raised their price objective on Identiv from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, Lake Street Capital raised their price objective on Identiv from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $6.33.

Identiv Stock Performance

The business has a 50-day moving average of $4.11 and a 200-day moving average of $3.65. The stock has a market capitalization of $93.16 million, a price-to-earnings ratio of -5.39 and a beta of 1.19.

Identiv (NASDAQ:INVE) last issued its quarterly earnings data on Wednesday, May 13th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The business had revenue of $7.41 million for the quarter, compared to analyst estimates of $6.92 million. Identiv had a negative return on equity of 11.74% and a negative net margin of 70.52%. Equities analysts predict that Identiv, Inc. will post -0.66 earnings per share for the current fiscal year.

Institutional Trading of Identiv

Institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd purchased a new stake in Identiv during the second quarter worth about $38,000. Wedbush Securities Inc. purchased a new stake in Identiv during the third quarter worth about $45,000. Jane Street Group LLC purchased a new stake in Identiv during the second quarter worth about $55,000. Franklin Resources Inc. purchased a new stake in Identiv during the third quarter worth about $85,000. Finally, Evernest Financial Advisors LLC purchased a new stake in Identiv during the first quarter worth about $152,000. 65.16% of the stock is currently owned by hedge funds and other institutional investors.

About Identiv

Identiv, Inc (NASDAQ: INVE) is a global provider of physical security and secure identification solutions, delivering hardware and software platforms that protect people, property and assets. Founded in 1969 through the establishment of Hirsch Electronics and later rebranded as Identiv in 2008, the company has evolved to address the convergence of physical and digital security in an increasingly connected world.

The company’s product portfolio spans RFID and NFC reader modules, smart card and credential technologies, access control hardware, secure IoT connectivity, and contactless identification solutions.